In today’s video we are joined by Thibault Catala of Catala Consulting
Our discussion is around the current topic on most revenue managers mind:
Don’t drop your rates!
We discuss why this seems fine in principle, explore how the message could be misunderstood and explain it is more nuanced than just a simple do or don’t binary choice.
Areas we touch on and questions we pose are:
- Why is the normal reaction to drop your rates (3.02)
- Is it really a binary choice to drop or not drop (5.14)
- What research supports the message not to drop rates (7.08)
(Sherry Kimes – Cornell Hotel School)
- Pressure from Owners/GMs and why knowing break even figure is key (9.28)
- Traveller types – Revenge and Anxiety (11.35)
(Article on Revenge Travel)
- If not providing full experience does price reflect that (13.59)
- How restricted occupancy could be used to help hotel hold rates (16.04)
- RMS not making much sense so focus is strategy planning for different recovery scenarios (18.48)
- Corporate rates, meeting & events (20.54)
- Don’t forget to develop packages and offers to obscure any rate shift (27.28)
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